Nordic buy-out group EQT and Goldman Sachs Capital Partners have made an €3bn offer for Danish facilities business ISS. The offer deadline is May 3 and, if successful, would give EQT 55 per cent of the firm and the balance to Goldman Sachs.
The private equity partners said they endorsed the existing management’s strategic ambition to become a leading provider within its four key markets: cleaning catering, office support and property services, though both organic growth and acquisitions.
Ole Andersen, partner of EQT, said, ‘ISS fits well into EQT’s strategy of investing in companies with growth potential. It is EQT’s ambition to support the management in further developing the company and its market positions within facility services to fully capture its potential.’
The deal would be one of the largest ever private equity transactions ever undertaken in Europe, although some way short of the current record holder – the €5.65bn buy-out of Italian directories Seat Pagine Gialle.
EQT is currently investing out of the €2.5bn fund it closed last year, while Goldman Sachs is in the process of raising a new fund that is expected to exceed €8bn.
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